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19 February 2020

Ahead of Davos, What Can Cash Teach Us About Crypto? - CoinDesk

Ahead of Davos, What Can Cash Teach Us About Crypto? - CoinDesk


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The similarities between the two represent an uncomfortable truth, particularly when you consider that many of the parties who have leveled such criticisms at cryptocurrencies over the last three years have been the issuers and defenders of cash itself: central banks.

I have long held that, were cash invented today, it would be dismissed by policymakers, bankers and law enforcement as dystopian, absurd and dangerous.

And yet, for the last hundred years, physical cash has been central to the global financial system.

Physical cash can perform many wonders that digital forms of money have (until recently) never been able to offer.

Amidst all of the printed words and proofs-of-concept, however, policymakers would do well to remember that perhaps the most important experiment with digital money – bitcoin – has been running for over a decade in plain sight.

But cryptocurrencies have much in common with that other product that has long been a central part of the global financial system: cash

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